At the age of constant decision -making and high bets, Ghazal Alagh, co -founder Mamaearth, he came up with a complicated understanding of “the greatest risk of business”. A 37 -year -old said that, referring to the failure of large companies such as Kodak, Blackberry and Blockbuster, he said that the greatest risk in business is not competition; Instead, he fights yesterday’s war with tomorrow’s money.
In LinkedIn Ghazal Alagh, he warned that businesses risk failure by holding past strategies in a competitive environment, as suggested by the situation of many large businesses.
She emphasized the danger that it was not developing consumers and technological progress, she said: “Kodak invented a digital camera in 1975. She then spent another 30 years of improving film technology. BlackBerry dominated smartphones.
“Blockbuster is another example of the inability to innovate a large company. He had a chance to buy Netflix for $ 50 million, the company management was busy optimizing late fees,” Ghazal Alagh said.
She proposed that there was a formula, suggesting that businesses should keep in mind these warning stories and adapt to the rapidly changing market to stay forward and scale D2C.
“All these great companies did not understand because of the wrong execution, but from the perfect performance of outdated strategies,” Ghazal Alagh wrote.
She proved to be a statement: “The biggest risk in business is not competition, it doesn’t mean one step ahead.”
The reaction of social media
Social media users responded strongly to the post. One user said: “Understanding the changing behavior of your client is a key thing that every founder must adapt to the operation of their business.”
Another remarked: “What works today may not work tomorrow.
Customers are constantly evolving and businesses that cannot adapt the risk of exclusion. The real differentiator is that it adapts in time to provide customers the best. ”
The third comment is: “Improvement of yesterday’s hacks is like polishing the Nokia keyboard in the era of iPhone.”
The fourth user wrote: “The best founders remain sufficiently paranoid to ask,” What if it stops working tomorrow? “
(Tagstotranslate) business risk
